Denmark | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Denmark including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Denmark economy.

Overview Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.50 0.4 0.4 0.5 0.5 0.8 percent [+]
Unemployment Rate 4.30 4.4 4.5 4.5 4.6 5 percent [+]
Inflation Rate 1.00 1.4 1.9 2.4 2.2 2.1 percent [+]
Interest Rate -0.65 -0.45 -0.45 -0.25 -0.25 0.5 percent [+]
Balance of Trade 4108.40 2854 4698 1225 4698 1566 DKK Million [+]
Government Debt to GDP 37.80 36.5 36.23 35.96 35.65 33.29 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 6.80 7.05 7.12 7.33 7.26 8.38 [+]
Stock Market 944.82 907 898 870 880 733 points [+]
Government Bond 10Y 0.65 0.63 0.63 0.64 0.64 0.74 percent [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.50 0.4 0.4 0.5 0.5 0.8 percent [+]
GDP Annual Growth Rate 2.30 1.5 1.5 1.6 1.8 2 percent [+]
GDP 295.09 300 297 303 286 322 USD Billion [+]
GDP Constant Prices 487736.00 489802 490596 491152 491548 492754 DKK Million [+]
Gross National Product 506985.00 519943 521003 521409 520256 518304 DKK Million [+]
Gross Fixed Capital Formation 99070.00 99059 99619 100006 99838 100370 DKK Million [+]
GDP per capita 58098.29 58143 58417 58692 58649 59058 USD [+]
GDP per capita PPP 43333.48 43319 43359 43399 43376 43303 USD [+]
GDP From Agriculture 6251.00 6190 6654 6261 6271 6276 DKK Million [+]
GDP From Construction 22234.00 22053 21749 22258 21123 22101 DKK Million [+]
GDP From Manufacturing 63383.00 62947 61044 63076 60881 63053 DKK Million [+]
GDP From Mining 6487.00 6675 6423 6405 6204 6372 DKK Million [+]
GDP From Public Administration 94835.00 95420 95148 94977 94961 94710 DKK Million [+]
GDP From Transport 84476.00 86172 84119 84923 78558 85035 DKK Million [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 4.30 4.4 4.5 4.5 4.6 5 percent [+]
Employed Persons 2746.00 2757 2751 2749 2745 2752 Thousand [+]
Unemployed Persons 115846.90 90.46 90.27 90.09 89.94 89.23 Thousand [+]
Long Term Unemployment Rate 1.20 1.06 1.03 1.01 0.99 0.93 percent [+]
Youth Unemployment Rate 12.80 13.07 13.09 13.14 13.15 13.18 percent [+]
Labour Costs 107.22 108 108 108 108 109 Index Points [+]
Productivity 124.62 123 124 124 124 124 Index Points [+]
Wages 38957.98 38556 38650 38745 38698 38019 DKK/Month [+]
Wages in Manufacturing 134.40 138 137 137 138 146 Index Points [+]
Population 5.71 5.72 5.73 5.74 5.74 5.87 Million [+]
Retirement Age Women 65.00 65 65 65 65 65 [+]
Retirement Age Men 65.00 65 65 65 65 65 [+]
Employment Change 0.40 0.4 0.4 0.4 0.41 0.4 percent [+]
Employment Rate 64.60 63.98 63.84 63.79 63.77 63.75 percent [+]
Full Time Employment 2027.90 2008 2023 2022 2010 2016 Thousand [+]
Part Time Employment 717.20 742 738 733 735 738 Thousand [+]
Job Vacancies 28423.00 32130 30563 29532 32228 30738 [+]
Labor Force Participation Rate 68.90 68.56 68.51 68.5 68.49 68.49 percent [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 1.00 1.4 1.9 2.4 2.2 2.1 percent [+]
Harmonised Consumer Prices 100.80 101 101 101 101 104 Index Points [+]
Consumer Price Index CPI 101.20 101 101 102 102 104 Index Points [+]
Core Consumer Prices 101.30 101 101 101 101 101 Index Points [+]
Core Inflation Rate 0.70 0.71 0.7 0.7 0.7 0.7 percent [+]
GDP Deflator 107.63 108 108 109 109 113 Index Points [+]
Producer Prices 108.10 114 116 118 120 132 Index Points [+]
Export Prices 120.50 120 120 120 120 120 Index Points [+]
Import Prices 115.30 115 115 115 115 115 Index Points [+]
Food Inflation 2.40 2.18 2.28 2.2 2.27 2.23 percent [+]
Cpi Transportation 99.70 99.46 99.35 99.38 99.4 99.39 Index Points [+]
Producer Prices Change 1.30 2.6 3.2 2.9 2.8 2.5 percent [+]
Inflation Rate Mom 0.10 -0.07 0.11 0.04 0.08 0.07 percent [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate -0.65 -0.45 -0.45 -0.25 -0.25 0.5 percent [+]
Interbank Rate -0.25 -0.26 -0.26 -0.25 -0.26 -0.26 percent [+]
Money Supply M0 61660.50 61444 61494 61501 61509 61509 DKK Million [+]
Money Supply M1 1148326.00 1155145 1160906 1163220 1164734 1166602 DKK Million [+]
Money Supply M2 1255321.00 1264394 1270984 1273720 1275523 1278803 DKK Million [+]
Money Supply M3 1582399.00 843121 1579597 1144643 1313488 1284911 DKK Million [+]
Banks Balance Sheet 3863633.40 3825615 3846370 3819222 3844152 3820029 DKK Million [+]
Foreign Exchange Reserves 464100.00 470544 470743 470777 470778 470779 DKK Million [+]
Loans to Private Sector 338.62 337 337 336 336 336 DKK Billion [+]
Deposit Interest Rate 2.40 2.46 2.4 2.33 2.23 2.35 percent [+]
Central Bank Balance Sheet 504.24 504 503 503 503 503 DKK Billion [+]
Private Debt to GDP 257.12 258 255 252 251 240 percent [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade 4108.40 2854 4698 1225 4698 1566 DKK Million [+]
Exports 50643.70 53427 53047 53101 53024 53035 DKK Million [+]
Imports 46535.30 48979 48724 48684 48640 48646 DKK Million [+]
Current Account 11326.00 4101 14358 4611 14112 877 DKK Million [+]
Current Account to GDP 7.10 6.7 7.18 7.06 7.12 7.27 percent [+]
External Debt 11899.00 12102 12108 12111 12112 12112 DKK Million [+]
Terms of Trade 102.00 103 103 103 103 103 Index Points [+]
Capital Flows 21.00 -125 -136 -138 -138 -138 DKK Million [+]
Gold Reserves 66.55 66.55 66.55 66.55 66.55 66.55 Tonnes [+]
Crude Oil Production 149.00 142 142 142 142 142 BBL/D/1K [+]
Foreign Direct Investment 683.90 641 627 614 605 551 DKK Billion [+]
Terrorism Index 2.15 0.28 0.29 0.3 0.42 0.13 [+]
Weapons Sales 15.00 30.51 29.89 29.27 31.22 34.56 USD Million [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 37.80 36.5 36.23 35.96 35.65 33.29 percent [+]
Government Budget -0.90 -2.8 -0.55 -2.1 -0.89 -0.3 percent of GDP [+]
Government Budget Value -12061.00 -4814 -12157 -5900 -12519 -7943 DKK Million [+]
Government Spending 124711.00 125736 126147 126091 126111 127329 DKK Million [+]
Government Spending to GDP 53.60 54.15 54.4 54.66 54.69 55.57 percent [+]
Government Revenues 263777.00 272721 262743 273955 261993 270158 DKK Million [+]
Government Debt 669.50 668 668 668 668 668 DKK Billion [+]
Fiscal Expenditure 275838.00 277008 276554 279014 276862 277965 DKK Million [+]
Asylum Applications 220.00 959 949 870 858 874 persons [+]
Military Expenditure 4130.10 4097 4083 4068 4113 4076 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Business Confidence -1.00 -3 -0.95 -5 -0.94 -6 [+]
Industrial Production 2.30 -2.5 4.53 -0.2 4.49 1 percent [+]
Industrial Production Mom 1.10 -0.8 0.01 3.2 0.04 3.3 percent [+]
Manufacturing Production 2.00 2.9 2.61 2.28 2.15 1.92 percent [+]
Capacity Utilization 79.30 79.15 79.2 79.54 79.77 81.13 percent [+]
New Orders 20.00 15.96 20.42 15.93 18.83 16.14 [+]
Changes in Inventories 662.00 1138 1290 1431 1552 2007 DKK Million [+]
Bankruptcies 471.00 544 509 512 513 513 Companies [+]
Car Registrations 22739.00 19940 19048 19371 19372 19338 Cars [+]
Competitiveness Index 5.35 5.33 5.33 5.33 5.35 5.35 Points [+]
Competitiveness Rank 12.00 11 11 11 8 5 [+]
Corporate Profits 222196.00 220073 222463 224852 225923 246778 DKK Million [+]
Ease of Doing Business 3.00 3 3 3 3 3 [+]
Electricity Production 3229.00 2447 2678 2977 2866 2783 Gigawatt-hour [+]
Corruption Index 90.00 90 90 89 89 91 Points [+]
Corruption Rank 1.00 1 1 1 1 1 [+]
Mining Production 12.70 0.74 2.26 2.4 2.32 2.37 percent [+]
Manufacturing Pmi 57.20 57.03 56.77 56.51 56.3 55.68 [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Confidence 7.40 6.4 2.8 7.6 5.86 4.4 [+]
Retail Sales MoM 0.30 0.02 0.02 0.02 0.02 0.02 percent [+]
Retail Sales YoY 2.60 2 1.9 0.2 -0.4 0.6 percent [+]
Consumer Spending 224085.00 224400 225249 224999 224957 224997 DKK Million [+]
Disposable Personal Income 1031205.11 1042960 1052167 1061375 1068845 1183098 DKK Million [+]
Personal Savings 6.14 13.92 8.5 7.49 17.13 9.97 percent [+]
Consumer Credit 19023.00 19249 19360 19482 19537 19836 DKK Million [+]
Gasoline Prices 1.67 1.65 1.65 1.65 1.65 1.65 USD/Liter [+]
Households Debt To Gdp 120.70 121 121 122 122 122 percent of GDP [+]
Households Debt To Income 242.79 253 247 242 240 216 percent [+]
HOUSING Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Construction Output 6.10 6.42 6.29 6.36 6.36 6.36 percent [+]
Housing Index 115.45 112 110 107 104 100 Index points [+]
Home Ownership Rate 62.70 63.02 62.99 62.96 63.21 65.77 percent [+]
Housing Starts 1913.00 1599 1683 1941 1852 1851 [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 22.00 21.7 21.7 21.7 21.78 22.36 percent [+]
Personal Income Tax Rate 55.80 55.4 55.32 55.24 55.08 53.2 percent [+]
Sales Tax Rate 25.00 25 25 25 25 25 percent [+]
Social Security Rate 8.00 8 8 8 8 8 percent [+]
Social Security Rate For Companies 0.00 0 0 0 0 0 percent [+]
Social Security Rate For Employees 8.00 8 8 8 8 8 percent [+]